铂金开启“狂飙模式” 年内涨幅已超黄金

Core Insights - Platinum prices have surged significantly, with a peak of $1221.48 per ounce, marking a 34.37% increase year-to-date, surpassing gold's gains [1][3] - The recent price increase is attributed to technical corrections and a shift in investor sentiment towards platinum, which is seen as having higher investment potential [3][5] Price Movements - As of June 9, spot platinum was priced at $1214.72, reflecting a 4.19% increase [2] - From May 15 to June 9, platinum's cumulative increase was 23.89% [2] Supply and Demand Dynamics - The World Platinum Investment Council (WPIC) forecasts a 10% year-on-year increase in global platinum demand for Q1 2025, driven by strong investment demand [3] - Investment demand for platinum rose by 28% quarter-on-quarter to 14 tons in Q1 2025, with a notable 140% increase in demand for platinum bars under 500 grams in China [3] Market Outlook - WPIC predicts a 4% decline in total platinum supply for 2025, reaching a five-year low of 218 tons, while total demand is expected to decrease by 4% to 248 tons [4] - The market is approaching a critical point, with a projected shortfall of 30 tons in 2025, marking the third consecutive year of shortages [4] Investment Sentiment - Analysts suggest that platinum's future price increases will depend on fundamental support and the ability to digest current inventory levels [4] - The introduction of more investment tools, such as ETFs and futures, is expected to enhance market liquidity and support platinum prices [5]